Last year in the country of Union, the price level increased and real GDP increased. Such an outcome might have occurred because short-run aggregate supply ________ and aggregate demand ________.
What will be an ideal response?
did not change; increased
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When an economy is operating with maximum efficiency, the production of more of commodity A will entail the production of less of commodity B because
a. resources are specialized and are not shiftable. b. resources are limited. c. the structure of demand is fixed at any point in time. d. material wants are insatiable.
According to Figure 2.5, the United States civilian labor force participation rate in June 2013 was ________
A) 59% B) 43.8% C) 66.7% D) 64.0% E) none of the above
Suppose the interest rate is 6% and compounded annually. What is the present discounted value of 6 future annual payments of $150?
A. $634.46 B. $737.60 C. $849.06 D. $900.00
According to Milton Friedman, how much we spend on consumption depends strictly on our permanent income
Indicate whether the statement is true or false